This position is eligible for incentive compensation and has a maximum incentive opportunity of 20% of base salary.
The CalSTRS Investments Branch is seeking an experienced individual to work as an Investment Officer III on the Private Equity team.
Established in 1988, CalSTRS Private Equity program invests globally in partnerships, separate accounts, general partner interests, secondary interests and co-investments. Investments include buyouts, growth equity, debt-related and venture capital. External advisors support the program by providing investment selection advice, research and gate-keeping services.
Private Equity is a fast-paced, team-oriented environment with opportunities for training and advancement. While collaborating with some of the best general partners, advisors, consultants and attorneys, you will contribute to the success of one of the largest Private Equity programs in the world. Team members will collaborate with the broader CalSTRS Investment Office and engage in projects ranging from evaluation of co-investments, secondary transactions, and other private equity investment strategies.
Come join the Private Equity team as we work toward our goal of enhancing equity returns and ultimately ensuring retirement benefits for California’s educators!
Under the general direction of the Portfolio Manager, the Investment Officer III – Direct Investments is expected to perform with a high degree of independence and serve as a high-level specialist to provide investment expertise in co-investment underwriting and portfolio management for the private equity industry. This position will be responsible for coordinating efforts to manage and co-monitor a portfolio of private equity partnerships and co-investments (primary and secondary) in the U.S. and internationally. Additionally, this position may be asked to work on efforts (underwriting or monitoring) outside of co-investments, but within the broader Private Equity ecosystem.
The ideal candidate will possess the following skills:
- Undergraduate degree or possession of an advanced degree in finance, accounting, economics, mathematics, or other similar fields
- Knowledge of investment principles
- Knowledge of private market-based investment strategies (private equity, private credit, venture, secondaries, mezzanine, and distressed)
- Experience within private markets, including all aspects of portfolio management, direct investment, investment manager selection, and diligence processes within an institutional environment
- Experience in underwriting, investment due diligence and writing investment recommendation memos
- Strong understanding of financial statements and accounting concepts
- Strong financial modeling, portfolio analytics and presentation skills
- Excellent written and verbal communication skills
- Experience in interaction with external management consultants, advisors, and/or legal experts
- Team player with a strong work ethic, high integrity, and desire to learn
- CFA designation or other professional certification such as CAIA
An incumbent who possesses a professional certification as a Chartered Financial Analyst (CFA) may receive a 5% monthly base pay differential.
Every 12 months, based on performance evaluation, employees may receive a 5% salary increase until they reach the maximum salary for the position.
